Bahrain’s Economic Development Board (EDB) has enabled the signing of a number of agreements worth €330 million between Bahraini and Italian enterprises at a business reception in Rome, organised by EDB in cooperation with large Italian enterprises.
The signing ceremonies were attended by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, and First Deputy Prime Minister of Bahrain, on the sidelines of an official visit to the Italian Republic, reported Bahrain News Agency (BNA).
These include agreements between:
• Tatweer Petroleum and Ente Nazionale Idrocarburi (ENI) Bahrain
• Alba and Fluorsid S.p.A
• Alba and FATA S.p.A
• Alba and Techmo Car S.P.C
• Al Salam Bank and OMP Racing S.p.A
• GPIC and Saipem/Snamprogetti S.p.A (ENI Group)
During the reception, HRH the Crown Prince underlined the importance of further strengthening the Kingdom’s economic competitiveness through the adoption of initiatives aimed at enhancing sustainable diversification efforts, in line with Bahrain’s Economic Vision 2030.
HRH the Crown Prince noted that promoting the capacity for innovation is key to providing favourable conditions for investment opportunities and economic growth, which is the foundations of the Kingdom’s comprehensive development goals, led by HM the King.
HRH the Crown Prince went on to highlight the Kingdom’s achievements, praising Team Bahrain’s continued efforts supporting Bahrain’s long-term development aimed at delivering a promising future for all Bahraini citizens.
HRH the Crown Prince emphasised the importance of bilateralism as a means to further enhance sustainable development and international cooperation across the economy, adding that strong Bahraini-Italian relations have resulted in the signing of a number of important agreements within the manufacturing, logistics, tourism and commercial sectors.
HRH the Crown Prince went on to praise the EDB’s role in attracting foreign direct investments, through the variety of plans and initiatives organised to showcase investment opportunities within Bahrain.
The Minister of Industry, Commerce and Tourism, HE Zayed R Al Zayani, gave a speech in which he praised the longstanding ties between Bahrain and Italy, adding that the agreements signed are a testament to the broadening of the two countries bilateral partnership, which will further enhance both economies.
HE Al Zayani noted that commercial cooperation between Bahrain and Italy began in 1973 and added that more than 60 Italian enterprises are present and operating in Bahrain. HE Al Zayani concluded his speech by relaying the opportunities available to enhance the Bahraini-Italian commercial partnership to even greater heights in the future.
The President of Confindustria Assafrica & Mediterraneo, Giovanni Ottati, gave a speech in which he highlighted that the Bahraini-Italian partnership has presented a wide-range of successful commercial opportunities. Ottati noted the Kingdom’s Economic Vision 2030 has shaped its diverse economy and global competitiveness, noting the desire of Italy to further strengthen its economic partnerships with Bahrain.
The chief executive of the Bahrain EDB Khalid Humaidan added: “The long history of trade between Bahrain and Italy has evolved into a strong partnership, allowing both countries to flourish. Bahraini and Italian companies will continue to work together to benefit their respective commercial ecosystems, attract new talent, and promote strategic sectors that will generate new areas for collaboration. These new agreements will play a significant role in driving growth in both economies.”
A number of high-level officials from HRH’s official delegation and senior figures from across the Italian and Bahraini private sector also attended the business reception.
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